A Guest blog by redlichtie for TSFM
From what I can see Mike Ashley is likely to be the only game in town for RIFC/TRFC fans unless they want to see another of their clubs go through administration/liquidation.
That particular scenario potentially allows for a phoenix to arise from the ashes but on past evidence it is probably going to be an underfunded operation with overly grandiose pretensions taking them right back into the vicious circle they seem condemned to repeat ad nauseam.
Ashley has the muscle to strongarm the various spivs to give up or greatly dilute their onerous contracts and I suspect that is what has been happening behind the scenes.
From Ashley’s point of view I believe that what is being sought is a stable, self-financing operation that he can then sell on whilst retaining income streams of importance to SD.
I also suspect that he will come to some arrangement with the SFA to dispose of his interest once he has stabilised the club.
The problem for RIFC/TRFC fans is that Ashley is not going to fund some mythical “return to where they belong”, though that is beginning to appear to be the second division of the SPFL where they are heading to have a regular gig.
Like at Newcastle, Ashley will cut their coat according to their cloth. This will mean, again like at Newcastle, a mid-table team with good runs every so often. If the finances can be fixed then they will have an advantage over most other Scottish clubs but in the main we will be back to actual footballing skills and good management being what is important (pace “honest mistakes”).
With recent results and footballing style clearly those are issues that will require attention and McCoist seems likely to present RIFC/TRFC with an early opportunity to address at least one aspect of that if he continues with his current “I’m a good guy” press campaign. It may take just one unguarded comment or action and he will be out.
But will the Bears go for Ashley’s plan? So far they seem antagonistic and still cling to their belief that the world owes them a top football club regardless of cost.
If the fans don’t get behind the current entity I can see Ashley deciding the game’s not worth it and cashing in his chips. Some ‘Rangers Men’ will probably turn up and create a new entity for The People to believe in and Ashley will continue to draw in income from shirt sales and, most likely, charging fans at the world famous Albion car park which he will then own.
The upcoming AGM is crucial and from what we have seen of Ashley so far he gets what he wants.
The crushing reality about to descend on The People is that there really is no Santa Claus. A Sanity Clause, perhaps but no Santa Claus.
essexbeancounter says:
January 18, 2015 at 11:50 pm
A bit like Rab C’s brother!http://youtu.be/NOLoNp8j_XM
scapaflow says: January 18, 2015 at 11:34 pm
“Luke Edwards @LukeEdwardsTele 1 hr1 hour ago
Just a warning but someone told me 2day Ashley will give up on Rangers project. Doesn’t bode well for #nufc exit, although might be wrong”
“Luke Edwards @LukeEdwardsTele 46 mins46 minutes ago
@toontoon999 change it depending on information given, yes. I wouldn’t be surprised if it’s a ploy, though. Spread fear no money coming”
Edwards is the Telegraph’s North East of England sports writer
============================
I saw that earlier, but he also added:
Luke Edwards @LukeEdwardsTele
Should add not entirely sure I believe Ashley is ready to give up just yet. Could be part of a game, man is relentlessly stubborn after all
essexbeancounter says:
January 18, 2015 at 10:34 pm
‘…and here was me thinking that John Clark(e) was the only contributor allowed to quote the Bard…’
———
At this time of year,as occam’s post at 10:52 pm kind of reminds us, our minds turn to oor ain excise-officer, actually very deeply politically conflicted Bard, Robert Burns, Depute-Master , St James’s lodge, Tarbolton, who by the skin of his teeth escaped a charge of gun-running to revolutionary France and kept his Excise job-keeping his head down.
His life and literary works have been exhaustively mined and researched, but I can give a categoric, on the level,assurance that when using the word ‘sleekit’ nothing to do with gardening was in his mind. 🙂
http://www.heraldscotland.com/news/home-news/police-write-off-unpaid-debts.116362182
Interesting story in the Herald today over unpaid bills being wiped out by Police Scotland, including £51,882 owed by the former Rangers Football Club before it was liquidated in 2012. The Rangers write off was with the full approval of the Scottish Government. Does that constitute state aid?
I wonder who the smaller football related bills are associated with, and why the article doesn’t say.
Horace
You can have my ticket,it’s a one way ticket to Carstairs
An update to AIM this morning about the ongoing financial situation – discussions ongoing.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218547.html
Also EGM notice, but questioning it’s validity and the status of the proposed directors (as predicted one in particular)
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218558.html
“The AIM Rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company.”
I love the bit in the aim notice where they say
At the current time the assets (other than Ibrox), cash flow and business of Rangers does not support a significant financing, on an open market commercial basis, to achieve the goals which the directors have set for the Club. …..These discussions contemplate a significant amount of capital being available to the business on a long term basis in order to enhance the squad which the directors believe is necessary.
They know their customer, unfortunately that customer knows them too now
upthehoops says:
January 19, 2015 at 6:49 am
http://www.heraldscotland.com/news/home-news/police-write-off-unpaid-debts.116362182
Interesting story in the Herald today over unpaid bills being wiped out by Police Scotland, including £51,882 owed by the former Rangers Football Club before it was liquidated in 2012. The Rangers write off was with the full approval of the Scottish Government. Does that constitute state aid?
I wonder who the smaller football related bills are associated with, and why the article doesn’t say.
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I think you have hit the nail on the head! The money owed to Police Scotland is IMO a ‘footballing debt’.
Before writing it off Police Scotland should raise the issue with the SFA and tell them to collect because without police involvement a helluva lot of football matches simply wouldn’t be allowed to go ahead.
We all have to remember this is Rangers dunning the taxpayers yet again. If the LNS decision is good enough for the SFA to demand payment on the £250k imposed for breaking football rules by not declaring EBTs and hiding the paperwork then it’s good enough for Police Scotland to be paid.
And if it isn’t then Police Scotland should be informing the SFA & SPFL that they want a new rule created to ensure that in furure its charges are classed as a footballing debt.
This is just another small part of what it means for a business to live within its means. It simply has to be driven home to Rangers that the Old Ways are over.
It no longer means spending recklessly with no real intention of paying your creditors unless a passing Billionaire mistakenly alights from the Clockwork Orange. And it means to get loans for financial restructuring you have to use your assets for security.
I have watched the nutters who deluded Bears with the fantasy that State Aid would destroy Celtic. Their fictitious claims were based on bigotry and hatred and were tossed into the dustbin with a few lines of dismissal in an email from the European Commission.
The PR inspired nutters are now attacking Audit Scotland with the same kind of harassment that they employ as a matter of course towards all and sundry and not a word in the SMSM about the personal attacks mounted on public servants just doing their job. And all the while they attempt to taunt Celtic supporters with the fact that the Parkhead Club uses assets as security for loans.
The morons behind the tiny State Aid group – born within McMurdo’s Blog – can’t grasp that using assets as security enables businesses not only to get bank loans but to get them at advantageous rates. That’s why normal companies use them.
And that’s why Rangers has sketchy banking facilities with no access to loans quite simply because question marks hang-over their assets which makes banks run a mile. Only someone like Ashley is prepared to take them as assets and look at the thanks he’s got for that.
I’ve always argued on here that it was up to Rangers supporters to determine what type of club they want and to choose carefully because they would require to live with the consequences.
I actually now believe it has gone beyond that. I think it’s now up to Rangers fans to decide whether they remain tied to the 17thC or want to move forward into the 21st.
It really has come to the pass where the support needs to divide. Time to decide whether you want to keep the baggage or walk towards a new future and a new history.
What has totally crystalised it for me is the nonsense coming from the 3Bears and King camps over securing the assets. If Ibrox isn’t secured then there’s a good chance the club will fold permanently this time.
All that actually prevents that is Ashley. If he walks the history will without doubt follow and no future history will be created from the utter shambles left.
Really is time to see whether the Silent ‘Majority’ of decent Bears interested in Rangers primarily as a footballing club are actually in the majority and, if not, whether there are enough of them to start a genuinely new club to be proud of which places sporting integrity and living within its means as the new standards.
Of course they will be able to trace their antecedents to a team which used to play in blue at Ibrox and the titles the 2 or possibly 3 former clubs won.
But the future titles and honours to be won by the new club will build a new and separate history although the Bears will carry the memories of the best of the Old Days in their hearts. But their brains are well capable of recognising the shameful bits of the old history which they have walked away from to create a new tradition.
If they can’t or won’t take this admittedly huge step then gawd knows how long these current death throes will last to the detriment of Scottish Footbal fuelled by the devious plots of the Hampden Suits to preserve the old club in aspic ably abetted their pet clowns in the SMSM.
And for any journo out there who isn’t a ‘clown’ then now is the time to show a bit of journalistic integrity. Even if you can’t tell the truth for fear of the dangers it might bring to your family then at least stop telling lies and being used as PR fodder for the frantic attempts to provide life support for the decaying ancien régime which is dead in the water.
Dave King is not a man of limited intelligence. He must have foreseen that Board would challenge EGM notice on fit and proper person grounds.
Why them is he the sole charger pushing for the EGM? I would have thought there would have been a long queue to file that notice?
What is Mr King up to?
easyJambo says:
January 19, 2015 at 7:19 am
5 0 Rate This
An update to AIM ….
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Looks to me as though DK, by insisting on a position, has supplied the board with an excuse to reject the move. The F & P person thingy means he’s a non-starter in this context. I suppose Paul Murray is ineligible, too?
A bit odd. King & pals’ move seems almost designed to fail. Next step selling their newly-acquired shares? ‘We tried,’ bye?
Humpty Dumpty.
Long Time Lurker says:
January 19, 2015 at 8:07 am
1 0 Rate This
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Sorry @LTL, didn’t see your post while doing a wee bit proof-reading on my own. I’ve more less repeated you 😳
Summa summarum: ”All the King’s horses and all the King’s men’ know they can’t put this Humpty together again.
Again, its the little things that annoy the most.
Charles Paterson outside Ibrox on Sky, talks of the two statements without mentioning that very important part about King’s suitability.
Also a pic is doing the rounds of a Sun headline today (i assume)
Gers are in a worst state than when they were relegated.
upthehoops says:
January 19, 2015 at 6:49 am
…………….
‘I wonder who the smaller football related bills are associated with, and why the article doesn’t say.’
I assume Police Scotland are subject to FOI as a public body?
It interests me that Murray Park isn’t included in the AIM RNS as an asset worthy of being used as security and yet it is subject to an advance notice to the Land Registry as such.
I would have thought it would have been much simpler to sell the idea of MP as a security rather than Ibrox. I would also say that the support might even accept MP should be sold.
So why is it missing from the Rangers board of directors’ plan? Has it already gone or been promised but not quite finalised so doesn’t require to be notified to AIM?
I’m also beginning to think there’s a possibility that King’s egm is a feint simply to keep pressure on and lend a mail-glove to the negotiations being conducted by the 3Bears and Ashley – no doubt through his proxies of Llambias and Leach.
Somers IMO isn’t involved in any meaningful way and although the anti 3B camp needs to keep the Easdales or rather their proxies on board, for at least the present to bolster their bargaining position, the longer term weather outlook for Greenock looks distinctly dark and stormy.
I’ll stick my neck out and predict an Ashley 3B deal. King will get his placeman and the 3B will get their’s. Llambias and Leach will stand-down as directors but at least one will keep their job.
There will be no need for AIM or the SFA to reach a decision on King. Ashley will pony-up the cash to get the club to the end of the season or until a new share issue with disapplication of pre-emption rights in place.
Ashley’s loan will be cleared with a tranche of the share issue combined with a longer term annual payment funded from the Rangers Retail profits and the joint venture deal might even be extended to clear the Ashley loan on Ibrox.
The 3B as a sign of faith and commitment will clear Ashley’s existing £3 million in loans.
There’s a deal to be done here that can make the main players happy. It won’t make the Easdales or the mystery overseas investors happy as they will be diluted and I think Ashley will provide the legal muscle to dump the onerous contracts.
It really could be win win and a massive joint PR exercise by the RRM and Ashley will ensure lots of ST Tickets sold and the induction of Ashley into the RRM Club by the 3B will ensure the shirts fly-out the cardboard boxes.
Probably the biggest barrier to the deal for Ashley is the restriction on SportsDirect signage within and outwith Ibrox. But I’m sure that can be got round by Ashley agreeing a clause in the Ibrox security that if it all goes pear-shaped he will only sell the stadium to the 3B – at a suitable price of course.
What a man who would have thought he was a preserver of history 😆
There will be a few malcontent Bears left who might see beyond the short-term solution. They will be ignored and cast into the wilderness and the stick used to beat then mercilessly and relentlessy will the the alleged assault on two Ibrox employees by the protesters on Friday night.
So all’s well that ends well and the SFA will be happy with the outcome and be able to rule that Ashley doesn’t have a level of ‘control’ that it needs to worry about 🙄
Danish Pastry says:
January 19, 2015 at 8:20 am
No apology necessary.
I like your point on King et al possibly moving to sell shares, sorry guys we did our best – we are now passing the baton onto others to take up the fight [presumably the Rangers Trust].
Its smelly, if King was serious about the EGM he would have encouraged someone else who was eligible to submit the notice.
Perhaps King is making a play to be involved in Rang3rs? A quick dabble in the AIM paving the way?
Morning folks. Yet more evidence of armageddon at Pittodrie on Saturday. Please Mr Doncaster when can we get back to predictable football again, this entertaining stuff just isn’t good for the system!!?
Is this the day the Herald advert was due to come out? Is it there or has it been pulled? Sorry if I missed a conversation about this earlier.
ecobhoy says:
January 19, 2015 at 8:40 am
I think that is a fair stab at what may happen. The only thing you have missed is where the cash will come from stage 2, i.e Premiership and Champions League glory, including a whole new first team squad and a new manager etc. Any new money will just go back to paying off Ashley
I keep saying that even with austerity and the bears flooding into Ibrox in large numbers if in the Premiership the sums still don’t leave masses for a playing squad and, if Lawwell is to believed, as soon as T’Rangers make the top flight Celtic will be looking at ways in which to increase their income and cash in on that aforementioned £10m per annum.
Therefore any good buys out there who show an interest in playing in Glasgow can be nabbed by Celtic for a modest but higher bid along with a higher chance of CL football.
Hi guys and gals, do you not think that the bending amd breaking of just about anything put in the way of The Rangers is just getting ridiculous and obvious that nobody is listening and/or prepared to actually question these blatantly obvious attempts over the last 3 years or so, to keep a ” rangers ” on the park? Everyone is doin them a turn…..even now the Police FFS !!!!
Listen, there are too many people willing to help who don’t care whether they are conflicted or not, “its for the Peepul yeh know.” I was totally astonished that potentially liquidated companies were cherry picked and still remain in the Murray family, I mean WTF is happening out there with regulators or bean counters or whoever is meant to be looking at these things and keeping our money/standards safe? Is it just certain people who get justice or more likely people exempt from allowing justice to be done. An absolute scandal which will no doubt be allowed to continue. Imagine asking the Police or the council that you cannot afford to pay the 30 odd parking tickets and they turned round and said thats ok, we know money’s a bit tight so lets just call it quits….Nah, the law is there for everyone and everyone must abide by it and it is blatantly unfair that certain people seem more important than others.
I think it is getting to the stage that a one day boycott of all games is probably getting nearer as money, or the possibility of not getting it in the future, seems to be the only thing they’re interested in. Its obvious they are not interested in us and maybe it’s about time they got a wee reminder.
Continuing on the theme of buying players as per the AIM notice has anyone pointed out to the board that they have a caretaker manager who hasn’t shown too much in terms of innovation or development of youth talent, therefore who exactly is he going to buy/pick up. They have no scouting system other than wee Stevie in IT. There are only ten-eleven days left in the current transfer window.
Looks like loanees from Newcastle or picking up free agent stragglers, if you ask me.
Two questions
1. Why aren’t Police Scotland just creditors the same as the other creditors, and awaiting the outcome of BDO’s efforts to see if they might eventually get back 1p in the pound or whatever? Do any of the financial people on here know?
2. The AIM notice says ‘…the directors are pursuing bi-lateral discussions with two parties who are both stakeholders in Rangers’. So is the second party assumed to be King / the Hair Bear Bunch, or might it be some offshore shareholder / American billionaire / mystery other? One other thought – if its King and his non-concert party, how would they react to being offered Ibrox as security for their own loans? Would they fume and insist on being allowed to pump money in on an unsecured basis as the ground must for some reason remain untouched by filthy capitalism, or would they find a way to finesse their own arguments and accept egg on their faces for the chance to have their money backed up with the property?
A few months ago I posted on here that I was looking forward to the ‘old firm’ game. The main reason cited was going to a game with ‘atmosphere’ yadda yadda yadda. I’ve changed my mind.
I completely misjudged the mindset of most ordinary fans that this game is poisonous. I apologise.
After Friday’s unsavoury scenes, I think it’s best that this game is consigned to the annals of history. I have foregone my ticket and am unsure whether I even have the stomach to watch it.
There was talk, Wottpi, of Adam Campbell coming to T’Rangers from Newcastle. Instead he went to Gateshead
From the Daily Record Rangers fanzine-
keith jackson @tedermeatballs 7m7 minutes ago
Really powerful thought provoking stuff from @dmccarthyDR on why Ibrox should never be pawned: http://www.dailyrecord.co.uk/sport/football/football-news/david-mccarthy-66-reasons-rangers-5001307 …
Just a wee sample- “if they accept another loan from the Sports Direct tycoon and default on the repayment terms, they’d have to sell it to raise the cash to pay him back.”
Well, yes, that’s how a mortgage works, ultimately, but if “Rangers” don’t have the cash to pay their debts, then Ibrox will be getting sold anyway.
They Just Can’t Help Themselves, Can They?
A regulatory announcement that spells out in gruesome detail that they are tap dancing on financial black ice, yet they still can’t resist the dog whistle:
“achieve the goals which the directors have set for the Club”
“to enhance the squad”
http://rangers.g3dhosting.com/regulatory_news_article/448
It’s hard to be sympathetic.
Is this what ‘trading whilst insolvent’ looks like?
Tartanwulver says:
January 19, 2015 at 9:19 am
It will be years, probably, before the liquidation of Rangers Mk1 is finalised, I can understand Police Scotland wanting to get the item off their books.
Marcybhoy says:
January 19, 2015 at 9:27 am
I feel mixed about this, I haven’t been to a Rangers/Celtic game in a very long time, and don’t miss them in the slightest. That said, now that its arranged, cancelling it, would send a terrible signal, thugs need to be stood up to and dealt with, cancelling, or even playing behind closed doors, would seem like appeasement. However, as amused as I am by James’ fiesta idea, its a bad one, I hope the Celtic fans refrain from taunting, and give the other lot no chance to play the “we were provoked” victim card
I don’t get why the TRFC fans are so up in arms about MA securities over ibrox and MP
David Murray had the place mortgaged to th hilt and beyond
I also believe the so called 3 bear’s want security over MP for their 5m loan
So what securities would they require for their 10m loan
So I ask again why all the fuss about Mr Ashley loan
wottpi says:
January 19, 2015 at 8:58 am
ecobhoy says:
January 19, 2015 at 8:40 am
I think that is a fair stab at what may happen. The only thing you have missed is where the cash will come from stage 2, i.e Premiership and Champions League glory, including a whole new first team squad and a new manager etc. Any new money will just go back to paying off Ashley.
============================================================
Yip you spotted the flaw in my musings 😆
I actually didn’t deal with that bit because it depends on how Stage 1 pans out so becomes spec ulation built on speculation which usually ends up mince – it might be the finest steak that is minced but at the end of the day it’s still mince 😆
One thing that’s an essential for Stage 2 is to live within their means and that doesn’t matter who wins because if it isn’t rigorously enforced and accepted by Bears then it it will lead to death although the timetable will mainly depend on how long Ashley is prepared to stay IMO.
Obviously there are several factors that could affect his length of tenure but I’m not that sure it’s possible to work-out Ashley’s short term plans let alone his longer-term ones.
As a good tank commander Ashley knows that old wargaming maxim: ‘Don’t distract your enemy when they are just about to shoot themself in the foot’ or words to that effect.
We’ll never know what Ashley’s Masterplan actually is until the tanks are in place. As to the RRM well they might be moderately successful businessmen but in the grand scheme of things Ashley can buy and sell them with the change in his pocket. I seem to remember that he has a standing annual allowance from ‘SportDirect’ where he can spend £250 million per annum on anything that takes his fancy without even requiring sanction from the Board.
That might be one of the myths that surround him but I wouldn’t be in the least surprised if it was fact.
I think the real problem with the RRM is they are tied to the history and possibly some of the culture although in varying degrees. They see it as an almost a spiritual duty to wear the Blue Blazer – not sure about the brown brogues right enuff.
I’m not poking fun – that’s just the way it is and that’s their Achilles heel because their normal business atennae simply don’t pick-up the warning signals until it’s too late and that’s when the fans start baying for cash injections to buy players that neither the club nor the businessmen can afford.
And that’s the key to the Stage 2 financing IMO. Stage 1 can steady the ship as long as swingeing cuts are made. They will probably be that deep that the reality is Rangers won’t really be capable of competing in the Premier League in terms of securing a top 4/5 place for 5-7 years.
That is the harsh reality – there is no financial escape!
And yet in today’s RNS to AIM they are already talking about buying players by stating: ‘These discussions contemplate a significant amount of capital being available to the business on a long term basis in order to enhance the squad which the directors believe is necessary.’
This is simply madness and I really can’t see Ashley parting with his cash to splurge it on buying and paying players.
The inmates are truly in charge of the Ibrox lunatic asylum IMO given this statement.
Has anything been learnt? If it hasn’t there won’t be a Stage 2 and, indeed, possibly not even a successfull completion of Stage 1.
I also note the share price is starting to slide – small but perhaps an indicator of what the market thinks.
scapaflow says:
January 19, 2015 at 9:58 am
Ashley’s face does not, and will never, fit. He is not a real rangers man, and, doesn’t even bother pretending to respect the “traditions” For a large section of the rangers support that is all that will ever matter.
That said, while Ashley probably is the only chance of them continuing in some form, if Ashley is the future of Scottish football, we are all fecked.
I wonder if today’s regularatory announcements have caused Mr Doncaster to telephone Mr Llambias for an update on the financial stability of the club/company. I look forward to the announcement that all is hunky dory, tickety boo and sound as a pound. If fact I’ve already moved along because there is nothing to see here.
neepheid says:
January 19, 2015 at 9:40 am
Heartbreaking stuff and all football fans can see why it is such an emotional issue for the Bears.
However the reality is that the stadium has already been pawned by SDM for bank money and then put in the swag bag for Charles Green.
A bit late in the day to get teary eyed, without some kind of deal there isn’t going to be a club left to honour the 66 anyway.
If that is what is important then forget about the glory hunting and the money required for that, keep the stadium in the ‘right hands’ and be happy with aiming for decent and sustainable club with a long term future trying to playing entertaining football.
ecobhoy 10.05
There’s a deal to be done here that can make the main players happy. It won’t make the Easdales or the mystery overseas investors happy as they will be diluted
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But surely everyone with shares will be diluted, why will only some be unhappy?
“I also note the share price is starting to slide – small but perhaps an indicator of what the market thinks”
From what I have observed since the IPO is that the purchase/selling of shares makes not one iota of difference to the share price, what is happening in the real world ALSO has zero effect on the share price.
tcup 2012 says:
January 19, 2015 at 10:04 am
0 0 Rate This
I don’t get why the TRFC fans are so up in arms about MA securities over ibrox and MP
David Murray had the place mortgaged to th hilt and beyond
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Is it because SDM is a Real Rangers Man, so he could be trusted with the “Crown Jewels”? Even if he did sell the whole lot, lock, stock and barrel, to Craig Whyte for a pound?
I wonder how you get to be a Real Rangers Man. Is there an induction ceremony, involving the loving cup, possibly? And who actually pronounces you a RRM? John Greig? Or maybe Walter?
Whatever is involved, I don’t see Ashley qualifying. It’s gone too far for that already. The Daily Record clearly wants Ashley out, and are quite prepared to whip up the fans into a good old lather to achieve that.
cup 2012 says:
January 19, 2015 at 10:04 am
So I ask again why all the fuss about Mr Ashley loan
________
Because the anti-Ashley side, aided by the media, have made it out to be something more than it is.
Ashley gives the club £10m, with security, and the club later goes bust – Ibrox has to be sold to pay off debts!
Ashley gives the club £10m, without security, and the club goes bust, Ibrox has to be sold…
The fact that the latest lender of last resort is demanding this security is really only a factor because it shows the precarious state this institution is in, in a way that all the supporters can see and understand.
If the support can make themselves believe that Murray did nothing wrong, nor harmed the club, then they can easily believe that his security over Ibrox was somewhat different, and even custodian-like, when compared to a non-RRM like Ashley!
Re Wetherspoons decision.
I actually suspect they hardly need have bothered . .
I think Glasgow will be like a ghost town . . outside of the die-hards “fitba pubs”
I have often thought ‘Celtic pubs +Rangers pubs ‘ must be quite a strange concept for tourists/visitors to encounter by the way . .
Anyhow I digress . . The vast majority of glaswegians will stay at home if watching the upcoming hate-fest at all. .
they are all too aware of its toxic nature and its likely consequences . . rather than a boom time for business it is likely to blight profits as people opt to stay out of the firing line . .
I certainly hope ALL my friends and acquaintances from both sides stay safe . . not one I have spoken to so far intends to be out and about on the 1st feb .
and “they” say “we” need this fixture back ? ?
Yes D Murray is no w considered a so called rangers man now whatever that is But wasn’t when he took over and automatically started securing loans against the properties
And as for the Media they are all haters who print and tell lies about their club
Just ask them they won’t be long in putting you straight on th Media agenda
As for the so called 3 bears how many of them have been involved in rangers let alone TRFC
dedeideoprofundis says:
January 19, 2015 at 10:16 am
ecobhoy 10.05
There’s a deal to be done here that can make the main players happy. It won’t make the Easdales or the mystery overseas investors happy as they will be diluted
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But surely everyone with shares will be diluted, why will only some be unhappy?
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Ashley has a small holding relative to the money he makes from whatever deals he has done with the club which are perfectly legitimate. So dilution isn’t a problem.
Some of the mystery overseas investors who don’t have onerous contracts IMO are unlikely to want to buy Rangers shares at the market price considering their original purchase was as low as 1p a share. They might decide this is the time to sell-up.
Mystery overseas investors with onerous contracts will be worrying about a switch in the power balance where previously there was no real threat to their combined proxy vote. They also know things will change no matter whether Ashley or the RRM take control or some combination of the two.
If that doesn’t happen the club will go bust which affects their shares and possibly their onerous contracts. Even if the club doesn’t go bust these onerous contracts must be dealt with and if the mystery investors no longer have a presence on the company Board then their power is constrained.
As to the RRM they bought-in low at circa 18p so dilution isn’t that bad for them compared to those who bought at 70p. But the RRM don’t actually have a choice – if they want to control the club they have to pay the required price and part of that is the ‘dilution’ factor.
For them it apparently isn’t about the cost but something much more spiritual.
Bawsman says:
January 19, 2015 at 10:20 am
From what I have observed since the IPO is that the purchase/selling of shares makes not one iota of difference to the share price, what is happening in the real world ALSO has zero effect on the share price.
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RIFC Plc is an unusual share in many ways and usually characterised with very low sale volumes. But there are links between buying and selling volumes and the share price although sometimes for outsiders to the market they are impossible to decipher.
That isn’t meant as a personal remark and would probably cover the vast majority of posters and lurkers on here including myself.
The reasons that people buy and sell shares are numerous and often very personal – especially with football club shares – and the price involved and profit/loss achieved might not individually be important.
But that doesn’t mean that the actual market price is unaffected by volume. However there are people on here with a much better grasp of the mechanisms involved then myself.
You’ll see what I mean if you look at the 3 month graph at: http://www.lse.co.uk/SharePrice.asp?shareprice=RFC
On 30 December 2014 the share price was 18p on a 20k volume. Next day it was 23.5p with a 13.3 million volume. It went to 26p on 5 January 2014 with a 292k volume and reached 27p by 7 January 2014 with a 320k volume.
It would be a mistake to assume that only fans and those attempting to buy control in Rangers buy and sell shares.
When certain things happen either in the real world or in a specific company that causes share price movements then buyers and sellers whose only interest is making money will buy and sell and take positions on the share price.
That’s what the market is all about for most who play there – simply making money when the opportunity presents itself. It doesn’t matter if the compoany involved is selling perfume or horse manure – if a coin can be turned trading its shares then deals will be done.
Agree with Borthwick that a winter shutdown is the way to go, with ideally, moving the season to the summer.
http://sport.stv.tv/football/clubs/rangers/306986-spfl-wrap-rangers-farce-makes-renewed-case-for-winter-shutdown/
But,
For the under soil heating to be effective, it needs to be on all day, not just an hour or two before kick off, assuming it was switched on at all
Its all been suggest, on scotszine, that the game was started in an effort to move the rangers fan away from Argyll house, if so, I would have thought the clearance of the ground, once the abandonment was announced, would have been better handled.
Lessons to be learned all round.
The glove are off.
“Rangers bid to avoid general meeting called by Dave King”
http://www.bbc.com/sport/0/football/30876625
neepheid says:
January 19, 2015 at 10:22 am
I noticed you mentioned the Loving Cup.
No signs as yet of that ceremony taking this year on T’Rangers TV website or Youtube.
After the Dumbarton game on the 3rd would have been the time for it.
Has the Ashley led drive for austerity also seen the traditional toast to Her Majesty thrown on the scrapheap or was it planned for Friday after the game and snow stopped the party?
The Daily Retard has this in it’s latest board announcements article.
“This is a nod to King’s wrangle with the South Africa tax authorities to whom in 2013 he paid back £44 million of the £149 million the tax man insisted he owed.”
Aye, ‘wrangle’ indeed.
At the risk of an avalanche of thumbs down, I find the use of the Ibrox disaster dead by the opponents of Ashley , utterly despicable and opportunistic: a vile and desperate tactic in my view.
This stadium has been mortgaged, and sold before, its ownership subject to contingent liability and possible fraud in its acquisition by Charles Green. At no point during these transactions was this cynical use of the dead ever undertaken.
I remember the Ibrox disaster, my dad was at the game, and I was 7 years old. It was a truly shocking day. My mum, and a neighbour whose husband had also attended, in panic as the numbers of dead rose with no word from either of them. They was obliviously having an after match drink until the news emerged.
The blame for that disaster, was full square with the criminally negligent actions of the Real Rangers Men of the time, whose neglect of basic safety and ignoring of earlier incidents led directly to tragedy.
To have the RRM of today, use this most tragic event in the history of the game in Scotland as a cheap weapon to attack a standard business transaction is opportunistic and nauseating in the extreme.
That the record sees fit to print such substanceless and emotive guff to sustain an agenda and whip up anger is, even by their standards, beneath contempt.
bards says:
January 19, 2015 at 11:48 am
The glove are off.
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The BBC looks to have taken them off, at least!
‘This is a clear reference to King’s criminal record for tax evasion in South Africa.’
‘Criminal record’, ‘tax evasion’, as opposed to ‘settlement with SA Tax Authorities’ style whitewash! Has any sports page, where the majority of bears might visit, ever mentioned that King has a criminal record?
Could this be a signal that the BBC has decided to be more factual, or just that this reporter favours Ashley?
We may never know…
neepheid says:
January 19, 2015 at 9:40 am
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From the Daily Record Rangers fanzine-
keith jackson @tedermeatballs 7m7 minutes ago
Really powerful thought provoking stuff from @dmccarthyDR on why Ibrox should never be pawned: http://www.dailyrecord.co.uk/sport/football/football-news/david-mccarthy-66-reasons-rangers-5001307 …
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That article is disgusting. Truly disgusting.
I wonder what the families of the victims make of this crap ?
The DR should be ashamed.
Choices, Choices
Life is all about choices. The choices you make determine where you live, what you eat, who you live with, how much you earn etc etc. Making the right choices is central to your health, wealth and happiness. Yet faced with the current choices the more vocal bears seem to be somewhat lacking is deductive skills.
Ashley,
• Pros – offering a £10mil loan against Ibrox and MP which will get them to the end of the season and possibly lead to a longer term plan involving sustainability. Appears to be a sharp operator – heading off competitors at every turn – extensive football ownership experience.
• Cons – zero Rangersness, silent in the media.
The Three Bears
• Pros – lots of Rangerssness, relatively quiet in the media
• Cons – offering a £5mil loan against MP, which will NOT get them to the end of the season. Further loans to a similar amount will be required, details unknown. No football ownership experience.
Dave King
• Pros – much Rangerssness, (considering his dubious actions), uses the media to the full.
• Cons – – offering no loan, which will NOT get them to the end of the month. He seems to wants control above all else regardless of obvious regulatory hurdles. Extensive football ownership experience ending in liquidation. Criminal convictions.
Now can someone please explain to me why Dave King is anyone’s preference over Ashley, and possibly the Three Bears to create a better future for The Rangers? It seems to me that some people are just not safe making good choices about their own future. For the avoidance of doubt, Ashley is not buying Ibrox, he is offering to lend money against it to pay the wages and keep the lights on and avoid administration.
Loan, noun: a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
mcfc says:
January 19, 2015 at 12:26 pm
“Loan, noun: a thing that is borrowed, especially a sum of money that is expected to be paid back with interest”
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Unless it’s a Rangers issued EBT, then it’s a loan which never needs repaying.
Don’t think we should get too carried away with regard to the sentimentality being attached to Ibrox.
The issue is being raised by fans themselves and the DR being full of reporters as opposed to journalists are just going with the flow, as always.
At most clubs the fans have a connection to their traditional stadiums and no-one should be surprised when every reason (even those some find distasteful) is pulled from the woodwork to maintain traditions.
I find whataboutery point scoring by highlighting that RRM of the past were found negligent is equally distasteful being that around that time the conditions of many grounds (or were they hovels) could have resulted in a similar tragedy. There by the grace of God etc etc.
Bawsman says:
January 19, 2015 at 12:36 pm
Unless it’s a Rangers issued EBT, then it’s a loan which never needs repaying.
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Good point, maybe that could ask Mike for an EBT against Ibrox – after all they are entirely legal …..
wottpi says:
January 19, 2015 at 12:41 pm
Good point. I well remember the reaction of Hearts fans when Mercer wanted to move the ground, as well as the mocking of Hibs fans, when a move to Straiton was discussed. The problem there would interest eco, the area is riddled with old mine workings, coal and limestone, and the road regularly disappears into sink holes. The joke was that in the unlikely event that Hibs scored a goal at home, the entire stadium, would have disappeared into the bowels of the earth
tearsofjoy says:
January 19, 2015 at 12:17 pm
That article is disgusting. Truly disgusting.
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Didn’t SDM put Ibrox in jeopardy by racking up such debts that be had to sell the whole shebang (incl Ibrox) to Craig Whyte for 100 pennies in the greatest hospital pass in history, which ended with it being sold to Green’s Sevco(s) – where it is now. Surely these three bears warrant a mention.
It may also have escaped their notice that if Ashley does not complete his loan, the whole lot will be up for grabs again from Administration by the end of the month.
Sound familiar?
“Newcastle are a joyless, uninspiring, unambitious football club with some of the worst public relations in the country. There is a deep divide between those who run the club and those who support it from cradle to grave. They are not the only club in the country with that schism tearing at its soul, but they are probably the biggest.”
http://www.telegraph.co.uk/sport/football/competitions/premier-league/11354647/Premier-League-review-Manchester-City-must-move-to-keep-defender-Martin-Demichelis-at-the-Etihad-Stadium.html
Would Cellino be fit and proper to buy The Rangers out of administration if the SFA undergo gender re-assignment by the 27th JAn and thwart Ashley’s “influnce” at Ibrox?
“He [Cellino] was disqualified in December after the League obtained documents from an Italian court, which had found Cellino guilty of tax evasion. ”
http://www.bbc.co.uk/sport/0/football/30879809
Just watched the BBC online highlights of the Aberdeen v Dundee game. Commentator waxing lyrical (well ok maybe not lyrical) about how great a game it was as Aberdeen hit the equaliser. But… it gets to the end and what do you get – some bl**dy graphic of the Celtic and Ranger crests! I mean what the…..!?! Can they not keep that for those that are at all interested in the two clubs – I sure as hell ain’t, and I certainly don’t need reminded about the upcoming league cup “festival” of football. 👿 👿
Sorry, but had to moan to someone, and you guys seem to be the only ones that care at all!! 😐
On the disaster angle.people do feel very strongly about it, understandably so. Once the shipyard closes, and the area is re-developed, it would be entirely appropriate for a memorial to be placed on the site, and at wherever the replacement Ibrox is built.
I’m not trolling, the re-development of the area would represent an ideal opportunity to re-place a stadium, most accept has not aged well, or been properly maintained.
Thoughts on what Ashley’s game might be:
Ashley has already leant TRFC £3m, unsecured.
There is already a clear need for further loans, immediately, perhaps in excess of £7m.
Ashley intends lending a further £10m secured over Ibrox.
Outside of the Ashley loans the total of further creditors (who might well be cleared from Ashley’s intended loan) are presently unknown.
So, what if TRFC fall into administration, and Ashley holds 75+% of the unsecured debt (having ensured that is the case)? He will have control of the administration as he, and only he, can agree any CVA. He will also have security for his loan over Ibrox (and perhaps MP).
He agrees a CVA with someone in on his plans (perfectly legal arrangement, though, and all above board). As part of the arrangement the heritable property becomes his to clear his secured loan. His onerous contracts are not only ratified, but strengthened, with all others having been cleared from the £10m loan.
The end result would be TRFC is genuinely debt free, but plays at a rented, from Ashley, Ibrox, and trains at an Ashley owned MP. TRFC are eventually offloaded to RRMs for a sum that clears all Ashley’s outstanding costs, and, with ‘Rangers’ at last owned by RRMs the bears return in numbers; the owners are happy in the Blue Room; and Ashley has completed another financial masterplan. And Ashley just gets richer and richer!
He wouldn’t even need to make the rent all that onerous, say £1m pa, for it all to have been a super bit of fun for him! And all using that pocket money the SMSM delighted in telling us about!
Oh, and did I say he’d re-name the stadium, without the need to use the naming rights he so generously gave up last year?
Jings, I wish I’d thought of that plan! 😀
http://www.dailyrecord.co.uk/sport/football/football-news/former-celtic-boss-martin-oneill-5003277
Yet another Celtic legend who seems to have had some sort of Damascene moment-
“MARTIN O’NEILL believes Rangers have been treated harshly by the football authorities.
And he also reckons Scotland’s top flight has suffered as a result.”
Well thanks for the memories, Martin, but you have just climbed into the same box as Gordon Strachan, who expressed very similar sentiments a few months ago. It’s amazingly easy to trash your own legacy at a club, but why do they do it? Is it just attention seeking behaviour, or is there money involved? Although I can’t imagine the Daily Record having much money to offer, these days. Sickening.
Allyjambo says:
January 19, 2015 at 1:16 pm
AJ, you could throw in the possible re-generation of the area, and some of that land that SDM got for buttons…
Allyjambo says:
January 19, 2015 at 1:16 pm
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Thoughts on what Ashley’s game might be:
Ashley has already leant TRFC £3m, unsecured.
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Ashley’s existing £3m loan is secured against Edmiston House and the Albion Car Park-
http://www.express.co.uk/sport/football/534787/Mike-Ashley-ups-Rangers-loan-and-waives-stadium-naming-rights
AJ,
Not making mischief, but you should add into your projection that the significant >7m creditor that is causing all the immediate cashflow problems and may indeed be blocking the issue of security or negative pledge to anyone, may of course be Ashley himself, or a legal variation thereof.
Blumin’ heck. Why can I only think of these schemes AFTER somebody else does!
neepheid says:
January 19, 2015 at 1:31 pm
Ashley’s existing £3m loan is secured against Edmiston House and the Albion Car Park-
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Which probably explains why Mike Ashley’s a billionaire, and I’m not 😥
Though I’m sure Ashley could get round that by re-lending it unsecured when the current arrangement runs out. I’m sure he’s got it all under control, whatever his plans!
Feudal Football
If AllyJambo is correct, and I suspect he is, Ashley will end up owning the stadium, training ground, retail operation, badge IP and the history. All of these will be available for rent to those with emotional need to see a team in blue play at Ibrox.
Like feudal serfs or share croppers they will have no hope of freedom from their land-owning lord and master. Their only ambition will be to stave off starvation from one ST harvest to the next whilst the manor house hosts feasts and frivolities.
Ah well, you had it all and gambled it all away. Can’t complain.
Tartanwolver – given their rightful place on the board, shouldn’t the RRM be the Heir Bear Bunch?
Allyjambo says:
January 19, 2015 at 1:16 pm
AJ, yo’re positing that eventually Ashley would own outright, Edmiston, the car park, Ibrox & MP, further, the RRM, would essentially pay Ashley’s purchase costs when they buy the rangers brand and associated SFA licence.
The property(ies) are leased for market rent or thereabouts.
Now suppose the regeneration kicks in, and Ashley says “sorry Dave, but, we are gentrifying this area and your fitba team is lowering the tone.” Up pops the Murray family trust rep, “Hi, Dave, we have this bit of land we’re looking to develop, but the planning boys, are proving awkward, you need a stadium, we both get what we want.”
btw, that latest regulatory anouncement says:
“The AIM Rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company.”
Since King is on the record as not being unsuitable, will the board use this as grounds to reject King’s EGM notice under Section 303 of the Companies Act 2006 – but only after the 21 days allowed for them to deliberate. Surely such dirty tricks would not be very dignified.
http://rangers.g3dhosting.com/regulatory_news_article/449
neepheid says:
January 19, 2015 at 1:26 pm
When will fans realise that those ‘inside’ football these days have very little or nothing in common with the fans who help pay their wages be that through supporting teams or buying and watching the media.
Regardless of whether a legend or not these guys very rarely see things from the fans point of view.
For that we are left with the likes Jim Spence, Cowan & Cosgrove and the occasional contribution from the odd enlightened journo from time to time.
Otherwise why do you think web bampottery and the blogosphere is so well attended!!
mcfc says:
January 19, 2015 at 2:09 pm
“Since King is on the record as not being unsuitable”
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Where?
neepheid, lifted from the BBC by the DR. 5Live, I think. It would appear that tose who make a good living out of football are somewhat detached from those who pay the wages.
As neepheid rightly points out, Ashley’s current lending is secured, but, even with that security still in place, all Ashley, or a subsidiary company, needs to do is to approach sufficient unsecured creditors and offer, at generous terms, to purchase their loans/credit facilities granted to TRFC. I think it’s called factoring and is quite common in many businesses. I’d suspect he will have used this approach in previous predatory acquisitions.
I’m sure there will be pitfalls, but if this is Ashley’s plan, or similar, he will make it work.
A further tragic aftermath of the Ibrox Disaster, I was at the game, was that it emerged from the Inquest that the club directors had ignored recommendations from a previous fatal accident inquiry, that the terrace exit be redesigned.
It was recommended that a tunnel exit, half way up the terracing, was formed to spread the volume of exiting fans.
It was also recommended that the downward steps were built lake a fan, i.e. widening on descent, similar to what at been recently installed at Celtic park, to further reduce crowd pressure.
More damning than anything was the Sheriff’s branding Rangers director’s testimony as lies.
That is the legacy that RRM of the day left to those poor souls who perished that fateful day.
Bawsman says:
January 19, 2015 at 2:17 pm
I took that to be a typo by mcfc
As Police Scotland are not being paid in full for the service they provide Sevco, would it not be prudent to withdraw said services?
Allyjambo says:
January 19, 2015 at 2:29 pm
I took that to be a typo by mcfc
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Sorry, that should have been
“Since King is on the record as not being suitable”
or
“Since King is on the record as being unsuitable”
not both at the same time 🙂
Allyjambo says:
January 19, 2015 at 2:29 pm
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Bawsman says:
January 19, 2015 at 2:17 pm
I took that to be a typo by mcfc
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Either/or AJ, I doubt anyone will have put ANYTHING on record re his suitability (or not) . That won’t happen until absolutely unavoidable……………Then he will be allowed to be on A The Rangers COMPANY Board which has nothing to do with the SFA as they only concern themselves with CLUB business.